Sri Lanka to set up joint trade commission with Russia
The government has received cabinet approval to establish a joint commission with the Russian Federation to enhance the bilateral trade ties.
The Cabinet met approved a proposal made by the Ministry of Industry and Commerce Rishad Bathiyutheen to enter into an agreement on establishment of the "Inter-governmental Commission on Trade, Economic, Scientific and Technical Cooperation" with Russia to enhance cooperation between the two countries in those fields.
According to the government, the bilateral trade between Sri Lanka and Russia has been increasing over the years.
Sri Lanka's exports to Russia have increased from 11.6 million dollars in 2001 to 279.91 million dollars in 2013 while Sri Lanka's imports from Russia have increased from 3.7 million dollars to 145.85 million dollars during the same period.